In a Country with a Working- Age Population of 20

question 87

Multiple Choice

In a country with a working- age population of 20 million, 14 million are employed, 1.5 million are unemployed, and 1 million of the employed are working part- time, half of whom wish to work full- time.The size of the labour force is

• A)20 million.
• B)12.5 million.
• C)14 million.
• D)15.5 million.
• E)14.5 million.

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Definitions:

Receivables Balance

The total amount of money owed to a company by its customers for goods or services delivered, but not yet paid for.

Average Collection Period

The average number of days it takes for a business to receive payments owed by its customers.

Average Daily Sales

The average amount of sales generated per day over a specific period, commonly used to assess business performance.

Credit Policy

Guidelines that a company follows to determine the creditworthiness of customers, which influence terms of credit and collection procedures.